11-27-2023 RPT 06 - Laserfiche WebLink

Home

WAIER ENERGY LIFE PUBLIC UTILITIES RIVERSIDE PUBLIC UTILITIES Board Memorandum BOARD OF PUBLIC UTILITIES DATE: NOVEMBER 27, 2023 SUBJECT: SHAREHOLDER PROXY AUTHORITY AND ASSIGNMENT OF SHARES FOR MUTUAL WATER COMPANIES ISSUE: Consider recommendation to City Council to delegate shareholder proxy authority and assignment of shares as outlined in this report. RECOMMENDATIONS: That the Board of Public Utilities recommend that the City Council: 1. Confirm the shareholder proxy authority for voting representatives and alternates outlined in the report; 2. Authorize the assignment of shares for each mutual water company owned by the City to the specified Board of Public Utilities members; 3. Rescind any prior assigned shares owned by the City to the mutual water companies listed for individuals not identified in the Attachment; and 4. Delegate authority to any designated representative or alternate to vote the City's shares as the City's proxy at all meetings of the respective mutual water companies from the date of this action until amended, consistent with the City's adopted policies and strategic plan. DISCUSSION: Submitted for the Board of Public Utilities' consideration and recommendation to the City Council is the affirmation of the following City voting representation and alternates for Shareholders' Meetings of the mutual water companies in which the City owns stock, and the delegation of authority to these individuals to vote the City's shares as the City's proxy at all meetings of the respective mutual water companies: MUTUAL WATER COMPANY VOTING REPRESENTATIVE ALTERNATE Gage Canal Company David A. Garcia Todd M. Corbin Jurupa Ditch Water Company David A. Garcia Todd M. Corbin Riverside Highland Water Co. David A. Garcia Todd M. Corbin Trujillo Water Company Nancy Melendez Gildardo Oceguera Meeks & Daley Water Company David A. Garcia/Blake Yamamoto Todd M. Corbin